MOT: Moors & Cabot Initiates Coverage of Motorola, Inc. (MOT) with a Buy Rating and $22 Price Target

MOT: Moors & Cabot Initiates Coverage of Motorola, Inc. (MOT) with a Buy Rating and $22 Price Target
January 13, 2005 08:38:00 AM ET


NEW YORK, Jan. 13 /PRNewswire/ -- With our most recent distribution channel checks showing overwhelming strength for Motorola handset sales, we believe the company is poised to beat 4Q04 expectations handily, driven by mobile phone unit sales we now believe will exceed 29M. We believe outgoing COO Mike Zafirovski will be missed in the long run, but short term results are likely to assuage investor concerns. We believe the company's handset market share gains, steady growth in its core markets and potential for operating margin expansion position Motorola as a core wireless holding.

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Moors & Cabot's financial institution and technology coverage universe reflects the progressive nature of our market economy. Moors & Cabot's financial institution analysts specialize in the bank and thrift sectors. Moors & Cabot's technology analysts focus on accelerated growth companies in rapidly growing industries such as medical technology, biotechnology, semiconductors, wireless equipment and services, computer and business services and computer software.

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